Apple, $700 per Share – Roger Ingalls

This week Apple Inc. hit $700 for a single share of common stock and, as a whole, the company is now valued at $656 billion which places them at the top of the market valuation list. These dollar figures are incomprehensible.

The company has been very successful over the past fifteen years and the employees should be proud of their accomplishments but I wonder what the success of Apple says about our society. I don’t want to rain on anyone’s parade but for all intent and purposes, Apple supplies entertainment products. If all the company’s products were to suddenly disappear, the human population would not go extinct and other companies could supply similar gadgets.

As a species, we need food, water, shelter, care (love, nurturing and healthcare) and external energy. These five needs are essential to our existence yet the most valued company in our society is one that provides a luxury product. To be fair, ExxonMobil is an external energy company and very similar to Apple in market valuation. As much as I hate fossil fuel based companies, it is much more justifiable, in my mind, for an oil company to have a higher market value than a company providing a non-essential product such as Apple.

It agitates me that a company selling luxury products sits at the top of the value list when a significant portion of our nation does not have access to healthy food, are an event away from homelessness and can’t get adequate healthcare.

I know connecting Apple with the basics for human existence is not a legitimate discussion but it would make more sense if companies that helped us with essential survival were at the top of the valuation list.

Ironic observation: The Occupy Movement protested against corporate greed while having Apple earbuds stuffed in their ears.

ExxonMobil Says Yes to Global Warming – Roger Ingalls

Denier’s walls are crumbling down. It an astonishing speech, ExxonMobil’s CEO Rex Tillerson, admitted that the burning of fossil fuel is warming the planet. Like many others, I was totally floored when reading about his revelation. Perhaps he had a moment of weakness or maybe the perpetual lying finally got the better of him. More likely reputation played a role; let’s face it, the silly-science arguments used by fossil-energy companies are making them look stupid and lacking in credibility.

Can you imagine the look on the Koch brothers’ faces when they heard about Mr. Tillerson’s speech? I bet they soiled their pants from moaning so hard.

Tillerson wasn’t, by any means, apologetic or gracious. He called the public illiterate, the press lazy and indicated that the risk of spills and accidents were worth the reward. The biggest industry challenge, he said, “taking an illiterate public and try to help them understand why we can manage these risks.”

Interestingly, Tillerson appeared to ignore any discussion relating to remedial activities that would curb global warming. I suppose this is not a surprise. Slowing the release of greenhouse gasses would negatively impact ExxonMobil financially since more energy burn means more profits for them. The CEO believes we can manage in a hotter world. “We have spent our entire existence adapting. We’ll adapt,” he said. “It’s an engineering problem and there will be an engineering solution.”

I give Mr. Tillerson credit for stepping up and acknowledging the impact fossil fuels have on the environment but I also find it obscene that these Wall Street-massaged companies go from “denying” straight to “it’s too late, the damage is done so let’s adapt to our new climate”. Again, not a surprise, it’s all about lining pockets with gold but obscenely sinister nonetheless.

As much as I hate to agree with Tillerson, it is too late. Even if we drastically reduced carbon emissions today, temperatures are going to rise and so will sea levels for the next 200 to 300 years. Forget about green or sustainable economies, we need to pursue an adaptive economy that makes today’s disasters tomorrow’s normal.